Title
A Resolution of the City of Coral Gables, Florida authorizing the negotiation of a loan in a principal amount not to exceed $3,800,000 from the Sunshine State Governmental Financing Commission; to finance certain capital improvements related to the sewer system; approving the execution and delivery of a loan agreement; providing certain other matters in connection with the making of such loan.
Body
The City is presently seeking ways to finance the costs of sewer system improvements, consisting of the following improvements:
(i) Citywide Inflow and Infiltration Abatement ($1.5 Million)- This project has the objective of reducing the amount of rain and ground water that enters the City’s sanitary sewer system as required by DERM and Florida Department of Environmental Protection Regulations. It is anticipated that by implementing this program, the occurrence of sanitary sewer overflows, which adversely affects the environment and public health, will be reduced. The project proposes to rehabilitate deteriorated sanitary sewer systems within the City which have an average age of over 50 years. In 2012 the City of Coral Gables performed its Sanitary Sewer Evaluation Survey (SSES), as required by County Code, and it was determined that a total of 7 sanitary sewer basins were out of compliance with regulatory Inflow and Infiltration limits. As such, the City took immediate action and performed rehabilitation work in two of the seven basins (Lugo and San Pedro) and as a result brought the two basins into compliance. The five remaining basins require extensive work and are relatively large. They include the area of downtown Coral Gables (City 2 Basin), the area near Merrick Park (City 5 Basin), Coco Plum (Coco Plum 1 Basin), Sunrise basin and the area just north of Sunset Drive but south of US-1 (F Basin). As per DERM and FDEP regulations, all basins must be in compliance prior to November of 2016, or otherwise risk being placed into moratorium. The result of t...
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